What are Closing Costs?

Every home sale involves fixed costs. Sellers and buyers usually share these costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since Sky Apply Mortgage, Inc has extensive experience with closings & mortgages, we are closing cost experts.

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on Sky Apply Mortgage, Inc's experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at closing.

Below is a fairly generic list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Appraisal Costs
• Pulling Your Credit Report
• Interest Payment
• Escrow Fees
• Taxes
• Loan-related costs
• Points — A fee paid to lower your mortgage interest rate (optional)

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Title Insurance
• Flood / Earthquake Insurance
• Private Mortgage Insurance (PMI)

At Sky Apply Mortgage, Inc, we answer questions about closing costs every day. Give us a call: 8132007931.